Molopo Energy Limited 01 & 02 - Undertakings [20/04/2017] The Takeovers Panel

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TP17/19
Thursday, 20 April 2017

Molopo Energy Limited 01 & 02 - Undertakings

The Panel has accepted undertakings from Keybridge Capital Limited and Aurora Funds Management Limited in relation to the applications dated 11 April 2017 by each of the Australian Securities and Investment Commission and Molopo Energy Limited.

ASIC and Molopo have submitted in their respective applications (among other things) that Keybridge and Aurora are associated and there have been share acquisitions in contravention of s606 (see TP17/16 and TP17/17).

The effect of Keybridge and Aurora's undertakings are that neither Keybridge nor Aurora will dispose of or acquire any shares in Molopo without the Panel being given two clear business days' notice of any such proposed disposal or acquisition.

The undertakings preserve the status quo and are not an indication of the merits of either ASIC or Molopo's respective applications.

Copies of the undertakings are attached.

Allan Bulman
Director, Takeovers Panel
Level 10, 63 Exhibition Street
Melbourne VIC 3000
Ph: +61 3 9655 3597
allan.bulman@takeovers.gov.au


Australian Securities and
Investments Commission Act 2001 (cth) section 201A
Undertaking

Molopo Energy Limited 01

Keybridge undertakes to the Panel that, without the Panel's consent, it will not, and will procure that each of its associates does not, dispose of, acquire, transfer, charge or otherwise deal with shares in Molopo without providing the Panel with at least two (2) clear business days' notice in advance of any such proposed dealing.

This undertaking continues until the conclusion of the Panel's proceedings. Keybridge agrees to confirm in writing to the Panel when it has satisfied its obligations under this undertaking.

In this undertaking the following terms have the corresponding meaning:
Keybridge
Keybridge Capital Limited (ACN 088 267 190)
Molopo
Molopo Energy Limited (ACN 003 152 154)

Signed by David Sanders of Bennet + Co
with the authority, and on behalf, of Keybridge Capital Limited

Dated: 19 April 2017


Australian Securities and
Investments Commission Act 2001 (cth) section 201A
Undertaking

Molopo Energy Limited 02

Keybridge undertakes to the Panel that, without the Panel's consent, it will not, and will procure that each of its associates does not, dispose of, acquire, transfer, charge or otherwise deal with shares in Molopo without providing the Panel with at least two (2) clear business days' notice in advance of any such proposed dealing.

This undertaking continues until the conclusion of the Panel's proceedings. Keybridge agrees to confirm in writing to the Panel when it has satisfied its obligations under this undertaking.

In this undertaking the following terms have the corresponding meaning:
Keybridge
Keybridge Capital Limited (ACN 088 267 190)
Molopo
Molopo Energy Limited (ACN 003 152 154)

Signed by David Sanders of Bennet + Co
with the authority, and on behalf, of Keybridge Capital Limited

Dated: 19 April 2017


Australian Securities and
Investments Commission Act 2001 (cth) section 201A
Undertaking

Molopo Energy Limited 01

Aurora undertakes to the Panel that, without the Panel's consent, it will not, and will procure that each of its associates does not, dispose of, acquire, transfer, charge or otherwise deal with shares in Molopo without providing the Panel with at least two (2) clear business days' notice in advance of any such proposed dealing.

This undertaking continues until the conclusion of the Panel's proceedings. Aurora agrees to confirm in writing to the Panel when it has satisfied its obligations under this undertaking.

In this undertaking the following terms have the corresponding meaning:

Aurora
Aurora Funds Management Limited (ACN 092 626 885), including in its capacity as responsible entity for the Aurora Fortitude Absolute Return Fund (ARSN 145 894 800) and Aurora Global Income Trust (ARSN 127 692 406)
Molopo
Molopo Energy Limited (ACN 003 152 154)

Signed by Hugh Scales of Norton Gledhill
with the authority, and on behalf, of Aurora Funds Management Limited,
including in its capacity as responsible entity for the Aurora Fortitude Absolute
Return Fund and Aurora Global Income Trust

Dated: 19 April 2017


Australian Securities and
Investments Commission Act 2001 (cth) section 201A
Undertaking

Molopo Energy Limited 02

Aurora undertakes to the Panel that, without the Panel's consent, it will not, and will procure that each of its associates does not, dispose of, acquire, transfer, charge or otherwise deal with shares in Molopo without providing the Panel with at least two (2) clear business days' notice in advance of any such proposed dealing.

This undertaking continues until the conclusion of the Panel's proceedings. Aurora agrees to confirm in writing to the Panel when it has satisfied its obligations under this undertaking.

In this undertaking the following terms have the corresponding meaning:
Aurora
Aurora Funds Management Limited (ACN 092 626 885), including in its capacity as responsible entity for the Aurora Fortitude Absolute Return Fund (ARSN 145 894 800) and Aurora Global Income Trust (ARSN 127 692 406)
Molopo
Molopo Energy Limited (ACN 003 152 154)

Signed by Hugh Scales of Norton Gledhill
with the authority, and on behalf, of Aurora Funds Management Limited,
including in its capacity as responsible entity for the Aurora Fortitude Absolute
Return Fund and Aurora Global Income Trust

Dated: 19 April 2017